US: GM still not interested in Fiat merger

General Motors is big enough without buying Fiat Chrysler Automobiles, CEO Mary Barra said Tuesday.

“We already have scale and we are leveraging that scale,” Barra said in a news conference before this morning’s GM shareholders meeting at the Renaissance Center in Detroit. “When you look at the last several years we have been merging with ourselves.”

She confirmed that Fiat Chrysler CEO Sergio Marchionne sent her an email earlier this year in which he presented the case for the two automakers combining resources. Marchionne has repeatedly said that some automakers won’t be able to invest enough to keep pace with rapidly changing technology without merging with others.

Barra said she shared Marchionne’s email with other GM executives and the company’s board of directors. They decided not to pursue the matter now.

“The best thing we can do is to be totally focused on the GM shareholder and to execute our plan,” Barra said.

Full content: The Financial Times

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